EUR/USD Critical Zone for Long-term Break or Bounce

EUR/USD

4 hour

The EUR/USD is approaching an important break or bounce level (decision spot), which is the support trend line (green) connected to bottom at wave X (green).

1 hour

The EUR/USD could have completed an ABC correction (blue) with a 5^th wave potentially completing at 1.0850. A break below the support trend line (blue) would change that perspective.

GBP/USD

4 hour

The GBP/USD seems to be building on a bullish rebound since hitting the support trend line (green) and breaking the resistance (red).

1 hour

The GBP/USD could retrace deeper within the 2^nd wave (orange) but a break below the 100% level would invalidate the wave count.

USD/JPY

4 hour

The USD/JPY built a strong bullish momentum which could be the wave A (lavender) of a bigger ABC within wave X (green).

1 hour

The USD/JPY still remains in the rising wedge chart pattern (blue and red lines) but the space is getting smaller and a break out either direction could occur soon.

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